Catalyst Capital Advisors LLC Purchases 457 Shares of Biogen Inc. (NASDAQ:BIIB)

Catalyst Capital Advisors LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 321.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 599 shares of the biotechnology company’s stock after buying an additional 457 shares during the period. Catalyst Capital Advisors LLC’s holdings in Biogen were worth $116,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Impax Asset Management Group plc raised its stake in Biogen by 40.5% during the 3rd quarter. Impax Asset Management Group plc now owns 38,810 shares of the biotechnology company’s stock worth $7,523,000 after acquiring an additional 11,185 shares during the period. Quintet Private Bank Europe S.A. grew its position in shares of Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 63 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Biogen by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 55,355 shares of the biotechnology company’s stock valued at $10,730,000 after purchasing an additional 324 shares during the period. National Pension Service lifted its holdings in Biogen by 10.1% in the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after purchasing an additional 32,914 shares in the last quarter. Finally, Old North State Wealth Management LLC boosted its stake in Biogen by 0.7% in the 3rd quarter. Old North State Wealth Management LLC now owns 13,533 shares of the biotechnology company’s stock worth $2,623,000 after purchasing an additional 100 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Trading Down 1.4 %

BIIB stock opened at $174.40 on Thursday. The company has a market capitalization of $25.41 billion, a PE ratio of 15.75, a P/E/G ratio of 1.64 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 12 month low of $170.71 and a 12 month high of $268.30. The firm’s 50-day moving average is $190.96 and its 200 day moving average is $209.10.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company posted $4.36 earnings per share. On average, research analysts anticipate that Biogen Inc. will post 16.4 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of several research analyst reports. Robert W. Baird lowered their target price on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 price objective on shares of Biogen in a report on Monday, September 9th. Scotiabank reduced their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $270.00 price target on shares of Biogen in a research note on Wednesday, October 30th. Finally, Barclays reduced their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $261.58.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.